COVID-19: How Business Can Thrive in a Brand New Future
If the COVID-19 coronavirus has taught us anything, it’s that adaptability is not only helpful for businesses to continue thriving in changing circumstances – it’s fundamentally necessary. Rising new trends such as artificial intelligence and disruptive technology have given us a taste of where the world is going, and now the move has been accelerated.
The ‘new normal’, which necessitates remote work, digital communication, and a call for soft and hard skills in innovative thinking, is a projection of where the world is heading. In order to keep up, there’s a call to tailor to the circumstance.
Future-Proof Your Business with These Four Strategies
Avoid hanging onto only traditional business practices
If you rely on every individual coming into the office to work every day, you’re inviting trouble for yourself. From expensive overheads to an outdated means of ignoring the advantage of online alternatives, the ‘traditional’ task-force has been rattled. If we’ve learned anything from the novel coronavirus, it’s that the internet is an essential tool – and it’s dangerous to not take full advantage of it.
What to do:
Adopt online practices as much as possible. Learn and teach effective digital communication skills, and ensure that teams can conduct themselves according to business as usual despite any radical changes in whatever happens in-office.
As far as possible, offer the ‘essentials’
The word ‘essential’ has taken on a brand new meaning. It no longer only means important – it now carries a connotation of a need to be available and on offer. If your business doesn’t offer an essential for consumers, ensure that there is something critically important on offer to all individuals. During the outbreak, high-end fashion apparel retailers started selling high-end face masks to ensure there was something on offer, despite their entire industry being locked down.
What to do:
In all circumstances, adapt to what is necessary when luxury is unavailable. This is especially important as the radical impact the economy is facing will propel customers away from the ‘nice-to-haves’.
Be a problem-solving innovative thinker
There is always a problem the world and individuals face. If it’s not a health pandemic, it’s a growing global environmental crisis. If it’s not environmental, it’s societal distress in rising anxiety and depression levels. Things are changing more rapidly than ever before, and it causes strain when the problems that emerge with that change are not met with solutions. Instead of offering an indistinguishable (albeit perhaps exciting) product or service, learn how to offer real-value solutions to address the problems.
What to do:
Spend your thinking time outside the box. Research and constantly learn what solutions have been tried and tested to address global problems, exploring new and creative avenues of thought.
Stay ahead and remain hungry for new knowledge
Adaptability is not something you can pull out of a magician’s hat. It’s a combination of character and knowledge. In order to adapt, you need to be resilient and have an understanding of how you might be able to adapt. Constant learning of future trends, new innovations, and predicted trajectories in economics and business help set you up to be as adaptable as possible. Researching new strategies and systems is a sure-fire way of remaining ahead and staying afloat despite the muddy waters of uncertainty.
What to do:
Read, all the time. Take classes. Explore new trends, and adapt your thinking to adaptability.
Register for our Online Digital Programmes and gain a wealth of adaptable, practical industry knowledge to take into your business thinking.